Text

Simple steps homeowners
can take now to protect
their assets
Head of April King Legal Paul King explains why some
homeowners are doing too little, too late to protect their
Care Cost Fees
"If my grandtather had left his t allows the attomcys, perhaps
the children, to deal with the
"A lot of people are still unaware half ofthe house in trust to the
that if they need care in later lifc,children then when my
the Local Authority to help pay for
received care in her later life she
would only have been means
incapacitated, but also to deal
with matters such as where the
parent should be living and how
P'aul King, Head of April King Legal
The Local Auority will look to tested on her own half of the
house, but my grandfather's half they should receeive eare.
would have been safe
use the assets of a
get down to a lower limit of
C14,250, when the Local Authority "Why should he have to
The Lasting Power of Atorney This ofen comes as a big shock
remains in place until you die
to my clients who had perhaps
·Your attorneys, again perhaps
your children, must legally act in
unless you want to cancel .thought that all was in order and
contribute his half when your best interests at all times
he didn't receive any
Once it's registered, you don
develop some debilitating
advises on the various optios removed from the family at an will one day benefit under a
Bloodline Trust Wills
will take over the fees.
one day inherit.
attorneys to act, either jointly or
independently, and April Ki ess. A burdens has been
The same is true for thinking that
their ehildren and or grandchildren
grandmother sadly passed away
roeently at the age of 92. My
grandfather had died many years The important factor is that
carlier and left everything to her."couples need to act in advance available
"When she needed care in the last Onee onc party dies or loscs
six years of her li
"Couples are often
surprised to discover that
even joint bank accounts
"If any of your children should die
hushand or wife and that
should then remarry, then your
The majority of April King's
for example, then they are no
longer in a position to do this
clients have already made
her, the house and all the estate
can
until the other firms befoee
I is therefore important forLasting Power of
the Firm A Mirror Will is when ose out under the line of
grandchildren would be the ones to
"Our clients tell us,
We've worked hard al
ot foresee care foes being an Attorney document"
Worse still, someone
Having a Lasting Power of scod partner dies. But modem
Local Authority get it ul goes on to explain that most Altorney removes the burden on family life means these type of
clients he sees are surpeised to children should ill health happen Wills leave a los to chance
lean remarriage usually cancels a further down the linc.
Will and makes the spouse next in "t helps a family deal with bank rrWill aving everything years of hard work.
would be in line to
the benefit of all your
Explains Pal: If have a
"Just as she died, she had gone
down to that lower limit of
14.250 and that's all her chaldren
line to inherit, ahead of their own
he s
ensures that your children
uely inberit when the
accounts and so on
parent's lifetime and ceases on
death
to my wife and she remarrics or "'ve experienced this in my own
goes into care after my death family and I'm sure most
then either the new busband or have had similar experiences or
the Local Authoity are likely to heard of somcone who has.
are many myths about the
e to protect
"Bloodline Trust Wills give greater
These type of Wills not only give
your chaldren complete control and
receive from you, they also grant
assets from being used like svor dies.
while you are still in good me
"If somcone becomes ill through
option is lost and the family
estat ahcad of my children.
"Even if my children are
named in my Mirror
The main one is that a parentafer the death of my grandfather
the whole estate could have
hould simply sign thein
over to the children now, so it
t be taken into
certain that they will
or meanstesting. That'sjust mot Lasting Power of Attorney Deputyshijp Order from the Coat inherit anything.
protection from the twists
Paul explains how people often
because they have made a Will,
of Protection- a drawn ou
"Local Authorities will actually
look to see if you've 'deliberately
remariage would cancel the
wil my wife had previously
The wording in these Wills states
that any moncy left over on their
t is therefore a good idea for
executors can also deal with
clients to plan ahcad and remove made with me and make the new
any future burden
giving property away, going back
born of them-your
ts if there is illness, stroke or
some other form of incapacityfamily.
from the
O April King 2017
"Sometimes people think that i whale they are still alive.
the gitt is made seven years prior Everyone should actually have
then the house is safe. This is not
Onee again, all adults should be
thinking of this, particularty when
there are children or a business
April King has prepared a free information pack
a Will that deals
two documents-
with their estate on death, and a invoved.
which is available by calling
0113 322 6212
Lises open Mon-Fei Kam-7pm,
deals with their estate during their
about when you get older, that's
the e
"The solution is for couples to fetime." he
each other in the first place
What my grandfather could have with finance, the other deals with ill, why do I need to
Sat t
le think, 'm not
You can also email infoa aprilking.co.uk or visit
done is leave his half of the house health and welfare
in trust to his children, stating that
"In many ways it's similar toa
Attorney?"But t
April King
regissered now and one which can missing the point. This is
be
April King has 24 oftices across the Midlands
Your lecal office is: Pres Exclange, Princes Square
alive. We call these Property Trust
a document that has to
attomeys should the need arise
be done in advance."